America Movil, the Latin American phone carrier owned by billionaire Carlos Slim Helu, has reached a deal to increase its stake in Telekom Austria, advancing the Mexican investor's push into the European telecommunications market.

Related

MEXICO CITY (Reuters) - For a generation, AT&T and Mexican billionaire Carlos Slim's telephone business stood side by side and grew to become giants of the industry north and south of the Rio Grande. Now, AT&T Inc's planned $48.5 billion purchase of U.S. satellite provider DirecTV is severing a connection with Slim that goes back to 1990, and turning them into competitors.

By Angelika Gruber and Georgina ProdhanVIENNA (Reuters) - Carlos Slim's America Movil and the Austrian government are moving towards a deal to pool their stakes in Telekom Austria, which would lead to a takeover offer and mark a further step in the Mexican tycoon's expansion in Europe.

The world?s richest man wants to make sure his cell-phone company America Movil, the largest in Latin America, remains that way. To do so, Mexican billionaire??Carlos Slim Helu could invest at least $13.9 billion to grow the network in Brazil and Mexico this year, analysts said. Their estimates follow America Movil?s announcement last week??that it??plans ...

The world?s richest man wants to make sure his cell-phone company America Movil, the largest in Latin America, remains that way. To do so, Mexican billionaire??Carlos Slim Helu could invest at least $13.9 billion to grow the network in Brazil and Mexico this year, analysts said. Their estimates follow America Movil?s announcement last week??that it??plans ...

Graham and Dodd Investor submits:According to Forbes Magazine, Mexico's Carlos Slim Helu has edged out Warren Buffett, and yes, even Bill Gates, to become the richest man in the world. Slim is his father's surname, and Helu is his mother's (maiden name), and thus he is distinguished from his own son, Carlos Slim Domit. So who is this relative unknown from a developing country?